Professional Services

"New York state’s financial regulator has expanded its investigation of conflicts of interest among bank consulting firms by subpoenaing two more of the advisers, a person familiar with the matter said. Promontory Financial Group LLC and PricewaterhouseCoopers LLP, which advise clients on how to satisfy regulatory requirements, were sent subpoenas by the Department of Financial Services during the past several months, said the person, who asked not to be identified because the matter is confidential...The PricewaterhouseCoopers subpoena is related to that consulting firm’s work with Mitsubishi UFJ-Bank of Tokyo, the person said. In June, the Tokyo bank agreed to pay $250 million to Lawsky’s department to settle claims that it had engaged in improper dollar transfers to Iran, Sudan and Myanmar. Bank of Tokyo-Mitsubishi UFJ Ltd., the main lending unit of Japan’s biggest bank by market value, moved an estimated $100 billion through New York for government and privately owned entities on the Specially Designated Nationals list issued by the U.S. Treasury Department’s Office of Foreign Assets Control from 2002 to 2007, the financial services department and New York Governor Andrew Cuomo said in a statement in June." (Bloomberg, "Promontory, PwC Said to Be Subpoenaed by N.Y. Regulator," 9/13/13)


PricewaterhouseCoopers lists "Agahan & Co as an affiliate ("Cooperating Firm") on its website (Company Website. "PricewaterhouseCoopers Regional Network").


April 2010: PWC has ended its business relationships in Iran. (The New York Times, "Companies Feeling More Pressure to Cut Iran Ties," 4/24/10)